Good News, Durable Goods | featured news

Orders for long-lasting goods posted the strongest gain of the year in July due to demand for cars and airplanes, though weakness continued outside the transportation sector.

Demand for long-lasting US manufactured goods rebounded more than expected in May and a gauge of business spending plans increased, but slowing global growth suggest the momentum might not be sustained.

Traders were encouraged that orders for manufactured goods excluding the volatile transportation sector rose sharply last month.

Orders for durable goods rebounded sharply in July, up 4.9%, staging their biggest gain in two years on demand for planes and capital goods.